jaysg

RSM Thailand?

Hi guys,

I hold the ACCA qualification and have 3 years of audit experience in Singapore. Anybody knows which audit firm in Thailand is a good place to work in?

Most likely a good way is to approach a public accountant who should be able to do all the necessary legwork for you.

Numerous factors in play. Not only the policies of Thai govt but global demand and sentiments also plays important part.

Anyway, a new year of hope and prosperity awaits! Cheerio!

Hope the two factions can compromise for the good of US and global economies

Brits, or anyone else who wants to invest through the UK, can use the Aberdeen New Thai Investment Trust plc, a closed-end mutual fund from the well respected fund management group, Aberdeen Asset Management. They have a particularly good repuation for their range and performance in Asian trusts (managed by a large team in Asia headed by Hugh Young. The value fo the New Thai Trust is up 56% year to date (177% over 5 years).

It is possible that this trust is also offered in Singapore or elsewhere (but not Thailand I think) - i.e. a seperate legal entity registered in another country but using the same management team and presumably generating similar results but with differing currency effects. One would need to contact the management company or web-search to find out.

http://www.trustnet....de=ITANW&univ=T

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Oh yes. I personally invested in funds managed by Aberdeen. These guys at Aberdeen invest on a long term value approach.

These fund managers have a reputation of being activist shareholders occassionally.

You can also try UOB Kay Hian, the brokerage arm of UOB bank with offices across the ASEAN and East asia region.

it may cause harmful side effects

optionsxpress?

If you want to have an account with a brick and mortar brokerage firm, can try UOB Kay Hian.

Mr Chaoren kept his offer at S$8.88 but extended his offer period. His offer price is below that from the Indoneisan Riady family backed OUE.

But nonetheless, Mr Chaoren had made a windfall from purchase and sale of his stakes in F&N.

Analysts predicted sale by Mr Chaoren to OUE.

No one forgot that's why the banking system here is in such good shape unlike the West.

Who audits the banks in LOS? What are their capital requirements? If a loan is past due, are they required to write it off as a loss to expense, and then if they collect enter it again as income? Or can they do what they want? Western banks are recovering, and their books are transparent. Their regulations are stiff. Banks have been closed down or taken over by bigger, better capitalized banks in the West. The situation is far better than it was 5 years ago.

I'm not saying I trust the economies in the West, but that's the governments I don't trust, not the banks. The governments are the ones who are in trouble from over spending.

Why is no one talking about all of the rice the Thai government bought last year that is rotting in warehouses? They thought they could corner the market, give the farmers a better price, and then by storing the rice create an artificial shortage which would drive the price up. It backfired and the price is down and the rice is rotting. How will the Thai government pay for this? It drove up the price of farm land because farmers were getting a lot more for rice, but now there will be another crop and where does it go? The real price globally is very low.

How does Thailand pay for this? Thailand is still renting every big warehouse it can find to store rotting rice.

The lack of transparency in Thailand banking and government should worry anyone. They can smile and say everything is peachy, but it isn't.

Only the Big Fours audit the banks. Western banks audited by Big Fours also go broke in recent years. How good are the audits?

I was in Bangkok since Tuesday and back in Singapore today and my last visit was in 2008.

I too realised almost every office worker carry a cool smartphone like iphone, samsung s3 etc. and wonder whether phones are cheaper in Thailand or their salaries and purchasing power increased.

While reading the Bangkok Post on Thursday, there was an article from Grant Thornton Thailand which raised the issue of public indebtness which risen to a record high level. Oh goosh, once the bubble bursts, it might be an ugly scence.

Do hope things get rectified soon

I'm not a taxation specialist, but as the tax is clearly called witholding tax, it should mean that this tax is an advance payment on your personal income tax due to the taxman, based on your yearly taxable personal income.

You do not mention if you have other taxable income, if not this means you can make a year end personal income declaration, and since your income is less then 150,000 Baht, no personal tax is due meaning any witholding taxes paid will be refunded to you.

Now seeing that the tax you pay yeary is only between 1000 and 5,000 Baht, it might be hard to gain anything by a refund if you need to pay an accountant to do the (Thai language) paperwork on your behalf!

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Hiring the services of an accountant is the best way to do this

Maybe worth taking a look at UOB. A Singapore bank with wide network and branches in Thailand too.

Actually, you can try UOB. Among Singapore Banks, UOB have a wide network in Thailand too.

I think it may aid in facilitating transfer of funds between Singapore and Thailand perhaps.

Very bad experience with DBS Vickers in Singapore

I just set up an account for trading shares with DBS Vickers in SG.

...

A few days later I have to correct a few things, that looked worse than they turned out.

Obviously you have to tell the broker (on the phone) clearly, what your price limit is, else they take whatever they can get. So I ordered by phone and had the broker get back to me with the current price, before I agreed to actual buy that stock.

Also the cancellation was not a fee but the sell-back of the stocks after I refused to buy at the price they charged me. The broker paid it out of his own pocket he claimed. Which leaves me to wonder, how much money he's making a month, if he can just absorb some 2000 Euro...

I haven't yet received the receipt of the first deal I did with them. It seems, they are sending that as a piece of paper by mail instead of by e-mail. Then I will see, how to continue dealing with and through them.

Also I was told, the Singapore law is pretty strict, when it comes to dealing with banks, just to make sure no fraud is encouraged.

Will keep you updated (though I dunno, if it is of interest to anybody... Feedback, folks!)

Cheers,

Sam M.

I used services of all retail brokers in Singapore. On top of my list is the niche local player, Lim & Tan Securities followed by Phillips Securities.

I have noticed on the DBS website they have both DBS branches and POSB branches....what is POSB??

DBS acquired POSB in the last decade if not wrong but they still retain the brand name, POSB.

The topic of hypothetical colonisation seems to be a particular favourite with Bangkok taxi drivers. The vast majority of them say they wish Thailand had been colonised by Britain, "then we'd be like Singapore!".

It's not just because I'm a loog-krueng Angrit either. Sometimes I say I'm half Canadian.

Generally, territories in South East Asia colonised by the British have developed much better post colonial with the exception of Mynmar (Burma)

While Singapore is at the forefront, neighbouring Malaysia (also ex-Brit colony) still lag far behind socially due to their Bumis (Malay) protectionism or patriotism policies.

thanks Big Johnny

My Bank Account was opened 'indirectly' ...

I opened a Share Trading Account with a Thai Stock Broker.

To facilitate the Transfer of funds, that needed a Thai Bank Account.

They had an association with SCB from within their Office Building, signed a few forms and the Account was opened.

Was a few years ago, maybe 3 or 4 years.

All on a Visa Exempt stamp ...

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Hi David,

Mind telling us which brokerage company is it?

Thank you.

Hi,

I will be travelling to Bangkok for a short biz cum social trip.

As I will have documents to carry back to Singapore, I am thinking of having them delivered back to Singapore after my biz trip is done and spent the remaining couple of days on rest and relax which will lighten my baggage when I am departing back to Sgp.

Any buddy here have any advice on whether the postal service will be reliable in the delivery of my documents?

How about other reliable courier services?

Thanks in advance.

China's military is too strong for the whole ASEAN combined. Only with US in the region can act as a counter balance to China's growing claims into the region

Thanks for your explanation, Sateev. Your explanation is really valuable.. Thank you

Hi guys,

Anybody knows about the concept of landbanking?

I got to know a consultant in SIngapore from the Walton Group who offers me numerous land banking investments which have high profits generation rates.

The basics are invest in land in US and Canada, sell at high prices within next 5-7 years.

I wonder whether it is really that feasible.

Anybody have knowledge of the concept and the company, Walton?

Good news in a deal in EU was done.